Does lower than real inventoryIn Quickbooks impact on revenue and profit?

  • 1
  • Question
  • Updated 1 year ago
  • Answered
This is Neil Whittington as Separtor Technology Solutions P/l In Melbourne. We have som einventories in Quickbooks that are less than actual. Obviously this means that for balance sheet the value of inventory would be understated. . Does this also affect the calaculation of revenue and profit? Please reply by email to regards Neil
Photo of Neil Whittington

Neil Whittington

  • 70 Points

Posted 1 year ago

  • 1
Photo of Kerri

Kerri, Accredited Partner

  • 578 Points 500 badge 2x thumb
Hi Neil
It absolutely does impact your profit and loss COGS. It means your gross profit is increased. Kerri Giles